Ulta Beauty sets FY2022-2024 targets: net sales CAGR 5-7% (2019 base), 50 new stores/yr

Ulta Beauty, Inc.

Long-term targets: net sales CAGR 5-7%, comp sales 3-5%/yr, op margin 13-14%, EPS low double-digit CAGR, capex 4-5% of sales.
New strategic initiatives: 'Beauty to Go' BOPIS under 2 hrs, same-day delivery, Google GlamLab virtual try-on, Adeptmind AI partnership.
Establishes $20M Digital Innovation Fund, UB Media for first-party data monetization, and cost savings target of $150M-$200M.
Multi-year ERP upgrade (Project SOAR) and supply chain enhancements to support growth.

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